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under way right now. indications there may be a truce on the horizon. coming from cairo where egypt's president mohammad speaking to mourners saying egypt was passing through difficult days but there could be light at the end of the tunnel and referred to the truce that may be taking place in egypt. he said that the aggression on gaza would end on tuesday. didn't give details about that agreement. reports coming out of israel citing officials on israel radio that a truce could be announced as late as tuesday night this evening with the arrival of u.s. secretary of state hillary clinton. that's what's happening outside of gaza. here in gaza it still feels like a war footing. in the last couple of hours the iz rally israelis have warned of imminent attacks on homes and neighborhoods and forcing people to leave their cities and move into central gaza and an indication that a ground invasion may be imminent if a truce is not sealed within the next couple of hours. you can get a sense there's a great sense of fear among ordinary people of gaza that in coming hours it could go either one
. they are willing to defend their territory with their lives. in egypt the focus has shifted a bit because politicians are trying to broker a cease-fire or truce between israel and palestinian factions. there are sticking points but there are signals or at least some early signs that a truce may be on the horizon that would be welcome news for people certainly in gaza and also in israel. back to you. >> thank you so much for that. reporting through the weekend and today from gaza. oil prices rising as fighting between israel and hamas does continue. could this be the beginning of a bigger price pop and where should you park your money in the complex? we have the senior energy analyst at raymond james. good morning to you. >> thanks for having me. >> the conventional wisdom last week is because it doesn't directly involve iran, maybe the impact on the complex not as dire as it might be under other scenarios. do you agree with that? >> there should be no impact at all from what's happening currently on the israel/gaza border. none whatsoever. the reality is that the oil market is very jitter
relations between egypt and israel. that doesn't necessarily though still knock on to the oil trade, does it? >> no, it really doesn't. that's what we have to keep watching. the bad word we don't want to hear is iran, obviously. iran is going to give missiles, that's a given. the question is what does iran do, if they poise troops, it will open up completely and it gives israel all it needs and they will attack and attack hard in iran. >> the qe 4 may be on the cards for next year, are you disappointed that it hasn't done more for the markets? >> they did a good job last time in starting to go after the housing market, the problem is they can't just throw a qe-4 out there, it has to be a pinpoint target, change lending standards, make things happen, get congress together. what about infrastructure? we don't hear a word about it. so i think what the fed is going to do, they'll say we'll do something, but get congress to act, the election is over, now get together and do your job. >> to the up side, what levels are you looking at for wti and brent? i think the react sthun to yesterday's move w
in the area and the fact that there does not appear to be any cease-fire on the horizon although egypt's prime minister is in gaza today urging some international cooperation. we're also looking at the fact that oil prices here in the u.s. have basically erased this week's losses because of the gains that we're seeing currently in the oil complex. we're also hearing reports about iraqi enjoy saying that arabs should use oil to press israel over gaza. those headlines helping to cause this bid in the oil complex. in the gold market, we've seen steady declines over the last several sessions and now a little bit of stabilization in the gold market. there are concerns based on the world gold council report about demand particularly out of china. we've seen the cme lower margins for gold and silver so that may have an impact on the trading activity from here. carl, back to you at the white house. >> all right. thanks so much. in a half hour from now the president will hold key meeting with top congressional leaders on solving the fiscal cliff. we'll be over this crit aleveic event. both sides of the
Search Results 0 to 3 of about 4